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zero-coupon bond

From Longman Business Dictionaryzero-coupon bondˌzero-ˈcoupon bondFINANCE a bond bought at well below its actual value. It does not pay interest during its life, but the gain is made when it is resold SYN ZEROZero-coupon bonds, though they put nothing in investors’ pockets, can still generate tax liability. bond
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